Granite Bay Wealth Management LLC Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Granite Bay Wealth Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,454 shares of the iPhone maker’s stock after selling 1,439 shares during the quarter. Apple comprises 4.2% of Granite Bay Wealth Management LLC’s portfolio, making the stock its 7th biggest holding. Granite Bay Wealth Management LLC’s holdings in Apple were worth $5,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. IFM Investors Pty Ltd raised its position in shares of Apple by 20.0% during the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its holdings in Apple by 0.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after purchasing an additional 1,040 shares during the last quarter. Markel Corp lifted its position in Apple by 0.7% during the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after purchasing an additional 8,450 shares during the period. Camden Capital LLC lifted its position in Apple by 9.2% during the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC boosted its stake in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Robert W. Baird cut their price objective on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Oppenheimer cut their price target on Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Bank of America cut their target price on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research note on Monday, November 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.04.

Apple Trading Up 0.0 %

Shares of Apple stock opened at $135.27 on Friday. The stock has a market cap of $2.14 trillion, a P/E ratio of 22.14, a P/E/G ratio of 1.74 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The business’s 50 day moving average is $138.95 and its 200-day moving average is $148.10.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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